(Sept. 13, 2011) — RealPage, Inc. (NASDAQ: RP), today announced its “Front To Back” initiative, allowing users of Yardi Voyager™, MRI, J.D. Edwards, PeopleSoft and other popular third-party back office accounting systems to couple them with RealPage’s SaaS-based front office OneSite suite.
“What you run in the back office no longer dictates what you use in the front office,” said Dirk Wakeham, president of RealPage. “You can get all the advantages of OneSite without giving up your current accounting system. This is more and more important as owners migrate to online leasing and renewal capabilities that work much better from a single front office platform like OneSite.
“There are actually two great benefits to migrating to our front office, one obvious and the other not so obvious,” Wakeham continued. “The obvious advantage is OneSite’s superiority in boosting leasing, revenue and net operating income. Less understood, but extremely important, are the cost savings you achieve due to OneSite’s SaaS (Software as a Service) architecture.”
RealPage touts an independent study by Wachovia that compared SaaS to ASP (Application Service Provider) software and concluded that the total cost of ownership can be reduced over 40% by moving from ASP to SaaS, through the elimination of first-line application support and administration, ongoing training and IT infrastructure costs. This can translate into $2-$3 per unit per year in savings that accrue to the management company and owners.
“The terms ASP and SaaS are often used interchangeably, and that’s wrong,” said Ty Brewer, president of the RealPage Cloud Division. “It is very important for the rental housing industry to understand the significant differences, and the benefits and cost savings you gain by moving from ASP to SaaS. We host and maintain it; you just use it. It’s as simple as that.”
About RealPage, Inc.
Located in Carrollton, Texas, a suburb of Dallas, RealPage provides on demand (also referred to as “Software-as-a-Service” or “SaaS”) products and services to apartment communities and single family rentals across the United States. Its on demand product lines include OneSite® property management systems that automate the leasing, renting, management, and accounting of conventional, affordable, tax credit, student living, senior living and military housing properties; LeaseStar™ expert managed marketing that enables owners to originate, syndicate, manage and capture leads more effectively and at less overall cost; YieldStar® asset optimization systems that enable owners and managers to optimize rents to achieve the overall highest yield, or combination of rent and occupancy, at each property; Velocity™ billing and utility management services that increase collections and reduce delinquencies; LeasingDesk® risk mitigation systems that are designed to reduce a community’s exposure to risk and liability; OpsTechnology® spend management systems that help owners manage and control operating expenses and Compliance Depot™ vendor management and qualification services to assist a community in managing its compliance vendor program. Supporting this family of SaaS products is a suite of shared cloud services including electronic payments, document management, decision support and learning. RealPage’s MyNewPlace subsidiary is one of the nation’s largest apartment and home rentals websites, offering apartment owners and managers qualified, prospective residents through subscription, pay-per-lead and LeaseMatch pay-per-lease programs. Through its Propertyware subsidiary, RealPage also provides software and services to single-family rentals and low density, centrally-managed multifamily housing. For more information, call 1-87-REALPAGE or visit www.realpage.com..
Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking” statements relating to RealPage, Inc.’s expected, possible or assumed future results of operations and potential growth and plans, management, branding as well as market performance, opportunities and developments. These forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include all statements that are not historical facts and may be identified by terms such as “expects,” “believes,” “plans” or similar expressions and the negatives of those terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the following: (a) the possibility that general economic conditions or uncertainty cause information technology spending, particularly in the rental housing industry, to be reduced or purchasing decisions to be delayed; (b) an increase in customer cancellations; (c) the inability to increase sales to existing customers and to attract new customers; (d) RealPage, Inc.’s failure to integrate acquired businesses and any future acquisitions successfully; (e) the timing and success of new product introductions by RealPage, Inc. or its competitors; (f) changes in RealPage, Inc.’s pricing policies or those of its competitors; (g) litigation; and (h) such other risk and uncertainties described more fully in documents filed with or furnished to the Securities and Exchange Commission (“SEC”), including RealPage’s Form 10-Q previously filed with the SEC on August 9, 2011. All information provided in this release is as of the date hereof and RealPage, Inc. undertakes no duty to update this information except as required by law.
RealPage is not affiliated with Yardi Systems, Inc.; MRI Software LLC or Oracle Corporation. All names and marks appearing in this document may be trademarks or registered trademarks of their respective owners.